Gold price looks vulnerable as FOMC minutes loom Gold price flirts with the crucial support of $1,900 as investors await the FOMC minutes to attain guidance about inflation and the interest-rate peak. The XAU/USD continues to find offers from market participants as the USD and Treasury yields strengthen due to the resilience of the US economy, which contrasts with...
The upside, however, remains capped in the wake of growing acceptance that the Federal Reserve (Fed) will keep interest rates higher for longer. It is worth recalling that the markets are still pricing in the possibility of one more 25 basis points (bps) lift-off by the end of this year, which remains supportive of elevated US Treasury bond yields. In fact, the...
Against the backdrop of a moderate increase in consumer prices in July, the data suggested that the battle to bring inflation back to the Fed's 2% target is far from being won. The outlook keeps the door for one more 25 basis points (bps) Fed rate hike move by the end of this year wide open, which continues to push the US Treasury bond yields and act as a tailwind...
Alternatively, daily closing below the key support of the $1,910 level will challenge the critical 200 DMA at $1,900. A sustained break below the latter will put the June 29 low of $1,883 to the test. Gold sell zone 1916 Gold sell limit 1921 Target 1910 Target 1900
Gold price remains under pressure on inflation data buzz Gold price discovered an intermediate cushion after printing a fresh monthly low on Thursday. The precious metal remains on tenterhooks as forward action will be guided by the pace of inflation in the July US CPI data on inflation. Gold sell zone 1922 Target 1915 Target 1910 Target 1984